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There are many things to consider when choosing an app to buy and sell stocks and other securities. We compared fees, features and technology for some of the best stock trading app options in Canada.
This app is good if you are a beginner investor and want a low-cost option for buying stocks and standard securities like ETFs. In fact, it is one of the lowest-cost trading options available to Canadians. The app offers educational resources and tools, with items like savings calculators, articles and Investor Masterclass videos to teach you the basics.
Google Play Store rating: 4.1 stars Apple App Store rating: 4.7 stars
No annual fees, no commissions on trades
Unlimited trades
Limits on types of securities you can trade, mostly stocks and ETFs
This app is good if you want both low fees and the ability to trade various types of securities. You could perhaps think of it as the next step up from Wealthsimple. But in terms of usability, the app has not been well received by users, as evidenced by its relatively low ratings in both Google Play and the Apple App Store. Google Play Store rating: 2.2 stars Apple App Store rating: 1.9 stars
One of the cheapest ways to buy and sell securities online in Canada
Can buy and sell a variety of securities, including options, foreign currencies and commodity futures
App not been well received by users, with some saying price quotes lag markets, and complaining about long load times
This app is great if you are an experienced investor looking for reams of information and fancy analytical tools to help you make your trades. In short, it is well suited to those with plenty of experience in online trading and with plenty of money to trade. You may want to look elsewhere if you are a beginner investor. Google Play Store rating: 3.5 stars Apple App Store rating: 3.7 stars
Detailed educational section, with webinars, videos and even a Traders' Academy
Offers access to stock markets in 33 different countries and 68 different order types, including stocks, options, currencies and bonds
Might be too complicated for beginner investors
High minimum account balance
Asset Types
Stocks Bonds Options ETFs Currencies Futures
Minimum Age
18
Stock Trading Fee
Min. $1.00, Max. 0.5% of trade value
Option Trading Fee
$1.50 min. per order
Account Fee
$0 (if monthly commissions are greater than or equal to US$10.00)
For a trading platform that advertises itself as low-cost, Qtrade Investor Mobile isn't really cheaper than most of the other apps featured here. But it is competitive in terms of trading cost and available features. You can trade stocks, ETFs, mutual funds, GICs and bonds. A variety of investment accounts are available, including RRSPs, TFSAs and RESPs. Google Play Store rating: 2.2 stars Apple App Store rating: 2.2 stars
Can trade a variety of securities
Offers screening tools to analyze risk level of your portfolio based on assets you own
Lots of complaints about user experience in popular app stores
Not the cheapest nor most feature-heavy stock trading app available to Canadians, but it achieves a middle ground. You can trade stocks, options, ETFs, mutual funds, GICs and bonds. Google Play Store rating: 2.4 stars Apple App Store rating: 1.7 stars
Ability to trade a variety of securities
Third-party investment research available to users
High cost per trade
Users complained about equity search function not working properly, among other things
With this app you can reduce your trading costs, but only by making a lot of trades. Such a high volume of trading may not be suited to beginner investors. Scotia iTrade offers a so-called practice account with a fictional portfolio of $100,000 that lets you use the platform and get your feet wet with different kinds of trades using play money. Google Play Store rating: 1.6 stars Apple App Store rating: 1.3 stars
Good for beginners that want comfort of well-established financial brand
Mobile app users weren't impressed with the user interface or the overall speed of the experience
Asset Types
Options Mutual Funds ETFs GICs International Equities
Minimum Age
N/A
Stock Trading Fee
$4.99-$9.99
Option Trading Fee
$9.99 + $1.25 contract ($4.99 + $1.25 contract if completed 150 trades or more a quarter)
Account Fee
$0
ETF Transaction Cost
$9.99 ($4.99 if completed 150 trades or more a quarter)
The third member of Canada's big banks we look at, it offers lower trading fees than BMO and Scotiabank. CIBC Mobile Wealth offers access to a wide variety of investment and trading account options, as well as third-party research and screening tools. Google Play Store rating: 3.2 stars Apple App Store rating: 3.3 stars
Student discounts available
Free daily market report email with advice and investment ideas
You need to make a lot of trades each month to qualify for lower commissions
Annual fee if you don't carry a minimum balance in your account
Asset Types
N/A
Minimum Age
18
Stock Trading Fee
$4.95 - $6.95
Option Trading Fee
$4.95 - $6.95 (+$1.25 per contract)
Account Fee
$100
How we chose the best stock trading apps in Canada
We’ve chosen the apps on this page based on an independent set of criteria. None of these picks are sponsored – we also take into account providers that we aren’t partnered with – so that our selections are chosen without bias. We take these factors into account when choosing our top picks:
Mobile app ranking across app stores.
Fees and commissions.
Types of securities available.
Types of trades supported.
Additional notable features offered such as research tools, educational resources, practice accounts, etc.
No single trading platform will be the best choice for everyone, so compare your options before picking an online brokerage.
How to compare the best stock trading apps
Before signing up for a stock trading app, consider these factors:
Fees. Beyond commissions per trade, look into account minimums, transfer fees and varying costs to trade more complex securities.
Available securities. Some platforms offer a wide range of securities, while others specialize in only one or two.
Research tools. Beginners may want an app with educational resources, while active traders will need robust analytics tools.
Mobile support. Apps typically aren’t as robust as some desktop versions of the same platform. (Note: Not all apps also offer a corresponding desktop trading platform.) Check feedback in Google Play and the App Store.
Customer feedback. Explore customer feedback in places like the Better Business Bureau and Reddit to find out what investors really think about the platform.
The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.
Bottom line
The best stock trading app depends on what kind of investor you are. Be sure to compare fees. But also look at what other resources and features an app offers and how its cost structure matches up with your own trading needs. You can read more about the best online trading platforms here.
Our 'promoted' products are presented as a result of a commercial advertising arrangement or to highlight a particular feature. Promoted products are not a recommendation, an indication a product is the best in its category, nor represent all products in the market. It is important to compare your options and find the right product for you.
Frequently asked questions
It really depends what your needs are. Some apps focus on simple trades like ETFs and individual stocks at little or no cost. Others let you buy more complex securities and offer tools that help you analyze your investments, but cost more.
Again, it depends on what kind of investor you are. All of Canada’s so-called Big Six banks offer trading platforms, though some like TD Bank don’t offer a dedicated app for it.
Yes. But this is definitely not for the faint of heart or for inexperienced investors. Day traders buy and sell stocks on the same day. It can be lucrative, but also extremely risky. You should also consult with a professional about the tax implications in Canada of money earned from day trading.
Grant Surridge is an editor at Finder, specializing in finance. He’s worked in journalism and communications for over a decade, his previous roles including business reporter at the National Post and online editor at Reuters. Grant has a Bachelor of Commerce from the University of Manitoba and a Journalism degree from the University of King’s College. Grant is a long-suffering fan of his beloved hometown Winnipeg Jets.
Prepare for the Cymax Group IPO by opening your own Canadian stock trading account.
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